Panama: Market for Pulley Tackle And Hoists Powered By An Electric Motor 2024

Market Size for Pulley Tackle And Hoists Powered By An Electric Motor in Panama

The Panamanian market for pulley tackle and hoists powered by an electric motor soared to $X in 2022, with an increase of 30% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Pulley Tackle And Hoists Powered By An Electric Motor in Panama

In value terms, production of pulley tackle and hoists powered by an electric motor stood at $X in 2022 estimated in export price. Overall, production, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2019 with an increase of 305% against the previous year. Production of peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports from Panama

In 2022, the amount of pulley tackle and hoists powered by an electric motor exported from Panama soared to X units, growing by 259% compared with the previous year. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 354% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of pulley tackle and hoists powered by an electric motor skyrocketed to $X in 2022. Over the period under review, exports posted prominent growth. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X units), the Netherlands (X units) and Ecuador (X units) were the main destinations of exports of pulley tackle and hoists powered by an electric motor from Panama, together accounting for 41% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +27.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Peru ($X) and Colombia ($X) were the largest markets for pulley tackle and hoists powered by an electric motor exported from Panama worldwide, together comprising 63% of total exports. Ecuador, Honduras, the Netherlands, Jamaica, Costa Rica, Guyana, El Salvador, Venezuela, Trinidad and Tobago and Belize lagged somewhat behind, together comprising a further 32%.

Guyana, with a CAGR of +74.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for pulley tackle and hoists powered by an electric motor stood at $X per unit in 2022, jumping by 66% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Belize ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (+56.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports into Panama

In 2022, approx. X units of pulley tackle and hoists powered by an electric motor were imported into Panama; picking up by 140% on 2021 figures. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 638%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of pulley tackle and hoists powered by an electric motor skyrocketed to $X in 2022. Overall, imports recorded significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 1,542% against the previous year. Over the period under review, imports of attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of pulley tackle and hoists powered by an electric motor to Panama, accounting for a 56% share of total imports. Moreover, imports of pulley tackle and hoists powered by an electric motor from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Mexico (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +68.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+69.2% per year) and Mexico (+61.4% per year).

In value terms, the United States ($X), China ($X) and Free Zones ($X) were the largest pulley tackle and hoists powered by an electric motor suppliers to Panama, with a combined 64% share of total imports.

In terms of the main suppliers, China, with a CAGR of +119.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for pulley tackle and hoists powered by an electric motor amounted to $X per unit, which is down by -40.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 123%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform